With agropoles project, loans to farmers should rise from 0.3% to 5% of all bank loans

Agriculture

Thursday, 19 April 2018 15:49

With agropoles project, loans to farmers should rise from 0.3% to 5% of all bank loans

(Togo First) - Agropoles. These are what Togolese authorities are betting on to radically change farmers’ lives. In this framework, they want to raise agricultural loans from 0.3% to 5% of all bank loans granted in the country.

It would be quite an achievement considering that farmers so far were not much favored by lenders in Togo.

To remedy this, government decided to accelerate farmers’ financial inclusion, help them regroup as cooperatives and most importantly ease their access to bank loans. To this end, a guarantee mechanism is planned and agricultural offices will be set up to assess relevant projects seeking funding.

In the long run, agropoles’ development in Togo would foster agricultural transformation, thus creating jobs, wealth and boosting incomes of rural people.

The project, according to forecasts, should impact at least a million farmers by 2021.

Séna Akoda

REFORMS OVERVIEW

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At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

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Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

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CONSTRUCTION PERMIT (more info)

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PUBLIC PROCUREMENT (more info)

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